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Dec 5, 2012
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. >>> i now want to bring in a man who says president obama's plan would create jobs and cut the deficit. he's democratic congressman chris van hollen, maryland, ranking member of the house budget committee. welcome to you, sir. you said today -- >> good to be with you. >> good to be with you, too. we're in the fourth quarter as we approach the fiscal cliff. if we can deliver like rg iii delivers, we'll be doing well. the question i would ask is why the hell are we in the fourth quarter? why wasn't this done in the first quarter? >> well, piers, as you know, there were a number of efforts before the election to get this done and there were major differences between the parties, and those parties became a big part of the conversation during the presidential debate. the president could not have been clearer that he wanted to do two things. he wanted to boost economic growth by doing things like investing in our infrastructure which used to be a bipartisan idea, but also, extending middle class tax cuts and as you said, asking the wealthiest to pay a little bit more to reduce the deficit. t
. >>> i now want to bring in a man who says president obama's plan would create jobs and cut the deficit. he's democratic congressman chris van hollen, maryland, ranking member of the house budget committee. welcome to you, sir. you said today -- >> good to be with you. >> good to be with you, too. we're in the fourth quarter as we approach the fiscal cliff. if we can deliver like rg iii delivers, we'll be doing well. the question i would ask is why the hell are we in the...
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Nov 29, 2012
11/12
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where all bush cuts on all tax brackets expire at the end of the year. that is something that gives president obama a lot of clout right now. you can agree or disagree with the president obama policy that is for you to decide. congressman happens to disagree strongly but recognizes that the political reality that all tax cuts will expire on january 1st. >> in my view, we all agree that we are not going to raise taxes on people that make less than $250,000. we should take them out of this discussion right now and continue to try to work for a bigger deal. >> congressman cole cubelal colr a lone voice for the conservatives. i'm quoting now, the fact is that republicans face a new political reality on taxes. president obama's position means that taxes are going you up one way or another. congressman cole as you heard, they believe they should give this one to the president not because they want to, but because they have to. republican leaders though, they disagree. >> i told tom earlier in our conference meeting that i disagreed with him. it will hurt our e
where all bush cuts on all tax brackets expire at the end of the year. that is something that gives president obama a lot of clout right now. you can agree or disagree with the president obama policy that is for you to decide. congressman happens to disagree strongly but recognizes that the political reality that all tax cuts will expire on january 1st. >> in my view, we all agree that we are not going to raise taxes on people that make less than $250,000. we should take them out of this...
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Dec 6, 2012
12/12
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president obama and house speaker john baner -- john boehner spoke wednesday but publicly are holding firm on their positions. it's made clear the country could go over the cliff if congress fails to come to a agreement. the standoff and the country's skyrocketing debt concerned ryan ryan, so much so that he's the guy in the suit dancing gangnam style with former senator alan simpson. the can kicks back is working to get young people back to fixing the debt crisis. >> we're using humor to hook them in and get them to learn about this issue and understand how it affects their lives. >> reporter: the grass roots campaign wants to sign up more than two million people to put pressure on both sides. danielle nottingham, cbs news, washington. >>> 9news now is talking to our local congressional members about the fiscal cliff. and tonight at 7:00 p.m., maryland senator ben cardin will join derek mcginty in our studio. last night virginia democrat jerry connolly stopped by and the 11th district representative stressed that there is room for compromise on his party's side. >> it ought to be ope
president obama and house speaker john baner -- john boehner spoke wednesday but publicly are holding firm on their positions. it's made clear the country could go over the cliff if congress fails to come to a agreement. the standoff and the country's skyrocketing debt concerned ryan ryan, so much so that he's the guy in the suit dancing gangnam style with former senator alan simpson. the can kicks back is working to get young people back to fixing the debt crisis. >> we're using humor to...
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Nov 30, 2012
11/12
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president obama cutting to the heart of his decision to openly back marriage equality. been a pretty pivotal year in the long and emotional battle over same-sex unions and this day could be quite a pivotal day. because today the supreme court, the ultimate decider of rights and rules in america, is deciding whether it is finally time to take a stand on gender-based marriage law. and just how big a stand to take. the country, of course, is divided. right now 30 states have their own constitutional bans on same-sex marriage. but nine states plus the district of columbia allow men to marry men and women to marry women. that number grew by three alone just this month. those were voter referendums during the election. nationwide exit polls show slightly more voters than not say same-sex marriages should be legal. you see it there. 49% say yes. 46% say no. which in theory has absolutely no bearing essentially on anything that the high court decides, or does it? we may not actually even find out until monday whether the justices will decide to take the plunge or not into this
president obama cutting to the heart of his decision to openly back marriage equality. been a pretty pivotal year in the long and emotional battle over same-sex unions and this day could be quite a pivotal day. because today the supreme court, the ultimate decider of rights and rules in america, is deciding whether it is finally time to take a stand on gender-based marriage law. and just how big a stand to take. the country, of course, is divided. right now 30 states have their own...
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Dec 7, 2012
12/12
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proposal with $4 trillion in deficit reduction that does it without cutting benefits. we have an opportunity to administrator years of solvency to medicare and medicaid. we need republicans to sit down at the table and embrace the notion you need a balanced approach. they need to send that middle class tax cut extension bill to the president's desk. >> what, if anything, does today's jobs report do for the president's hand in these negotiations? >> it just continues to add to the idea that we continue to make slow and steady progress. that we need to make more progress, and that you can see that although we've created jobs in the private sector i think for 33 straight months, you have a fragile recovery that we know a fiscal cliff would really impact in a dramatic way. we want to make sure we aavovoi that. we have an easy, no-brainer thing to do to give that certainty and another shot in the arm to the economy. and that is extend the middle class tax cuts. simple, no-brainer thing to do we agree on. >> really quickly here. ten seconds before we get out of here. how wid
proposal with $4 trillion in deficit reduction that does it without cutting benefits. we have an opportunity to administrator years of solvency to medicare and medicaid. we need republicans to sit down at the table and embrace the notion you need a balanced approach. they need to send that middle class tax cut extension bill to the president's desk. >> what, if anything, does today's jobs report do for the president's hand in these negotiations? >> it just continues to add to the...
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Dec 4, 2012
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president obama says those tax cuts must expire for households making $250,000 or more. >> it's a position that is supported by a majority of the american people. and, you know, we need to see from republicans an acknowledgement of that. >> reporter: the gop proposal that the white house quickly rejected closes tax loopholes and reduces deductions to raise 800 billion-dollar in new revenue. the plan cuts $600 billion in healthcare entitlement programs. >> we are overspending and until you deal with that issue you cannot raise taxes enough to be able to keep one a trillion dollars of accelerate spending. >> reporter: republicans dismissed the president's plan late last week. but now that both sides have numbers on the table, some congressional watchers believe those outlines may eventually help them find common ground. in washington, danielle nottingham cbs 5. >>> are you ready for more rain? >> i don't know. >> well -- >> i guess we need to be. >> another storm heading our way. coming up, lawrence tracks when it will get here with hi-def doppler. igh-def doppler.. plus.. forget your librar
president obama says those tax cuts must expire for households making $250,000 or more. >> it's a position that is supported by a majority of the american people. and, you know, we need to see from republicans an acknowledgement of that. >> reporter: the gop proposal that the white house quickly rejected closes tax loopholes and reduces deductions to raise 800 billion-dollar in new revenue. the plan cuts $600 billion in healthcare entitlement programs. >> we are overspending...
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Dec 1, 2012
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obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families. that's already passed the senate. your members of congress, like allyson and chaka, other democrats in the house, they're ready to go, they're ready to vote on that same thing. if we can just get a few house republicans on board, we can pass the bill in the house, it will land on my desk, and i am ready, i have got a bunch of pens ready to sign this bill. >> 30 minutes after the president was finished, house speaker john boehner held a press conference, and he left unanswered the president's call for decoupling that 98% from the richest 2%, and he gave a pessimistic assessment of the situation. let's listen to
obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families. that's already passed the senate. your...
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Dec 7, 2012
12/12
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between 50,000 to 90,000 jobs could be lost if across-the- board spending cuts and tax increases are not averted. mike miller says that it will help determine what major finance initiatives will need to be considered for the state's upcoming legislation. president barack obama says approach in the fiscal cliff will add to holiday stress for american families. >> the closer it gets to the brink, the more stressed they will be. businesses are making decisions right now about investment and hiring. they don't have confidence that we can get this thing done, they will start pulling back and we could have a lousy time in our haqqani for the next several months. >> the president made the remarks while visiting with the virginia family to talk about the budget crisis. >> for now, the stalled negotiations cannot seem to be affecting local holiday shopping and events in and around baltimore. >> harbour east is one of the air is a special -- with special events going on throughout the city. winter wonderland promotes local artists and shoppers can get free parking. it is about promoting busine
between 50,000 to 90,000 jobs could be lost if across-the- board spending cuts and tax increases are not averted. mike miller says that it will help determine what major finance initiatives will need to be considered for the state's upcoming legislation. president barack obama says approach in the fiscal cliff will add to holiday stress for american families. >> the closer it gets to the brink, the more stressed they will be. businesses are making decisions right now about investment and...
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Dec 6, 2012
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conway distracts with negative ads to hide his support for obama care, which cuts medicare by $500 billion. >> that was 2010. fast forward to this year's election and the same principle carries through. each side tried to convince voters that the other guy wanted to take the hatchet to medicare. >> the biggest, coldest power play of all in obama care came at the expense of the elderly. $716 billion, funneled out of medicare by president obama >> my plan's already extended medicare by nearly a decade. their plan ends medicare as we know it. >> on medicare, for current retirees, he's cutting $716 billion from the program. i can't understand how you can cut medicare $716 billion for current recipients of medicare. >> look, these guys haven't been big on medicare from the beginning. their party's not big on medicare from the beginning. folks, use your common sense. who do you trust on this? >> so, now, of course, given all the campaign rhetoric coming from both sides, we are on the other side of an election that proved that there is a bipartisan consensus, that it is bad to be the kind of poli
conway distracts with negative ads to hide his support for obama care, which cuts medicare by $500 billion. >> that was 2010. fast forward to this year's election and the same principle carries through. each side tried to convince voters that the other guy wanted to take the hatchet to medicare. >> the biggest, coldest power play of all in obama care came at the expense of the elderly. $716 billion, funneled out of medicare by president obama >> my plan's already extended...
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Dec 1, 2012
12/12
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spending cuts and tax hikes. house republicans and president obama need to strike a deal on reducing the national debt. they have soundly rejected a white house offer that included $1.6 trillion in revenue, $400 billion in medicare and other entitlement savings, as well as a permanent increase in the debt limit among other things. so far, the rhetoric has not softened. treasury secretary tim geithner arriving on capitol hill for high level talks, most notably with house speaker john boehner. >> good morning, everyone. >> how did it go? just listen. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious. about real spending cuts. >> a much gloomier assessment from the initial prethanksgiving huddle at the white house. boehner described his meeting with geithner as frank and direct, the same way he described his phone call with the president the night before. and for the past two weeks there has been no substantive progress. >> most public statements have been o
spending cuts and tax hikes. house republicans and president obama need to strike a deal on reducing the national debt. they have soundly rejected a white house offer that included $1.6 trillion in revenue, $400 billion in medicare and other entitlement savings, as well as a permanent increase in the debt limit among other things. so far, the rhetoric has not softened. treasury secretary tim geithner arriving on capitol hill for high level talks, most notably with house speaker john boehner....
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Dec 7, 2012
12/12
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in this country president obama says cutting a deal to avoid the fiscal cliff could to be done in a week but the president said that won't happen unless republicans drop their opposition to the wealthy. president obama visited a virginia family to move his cause. he maintained his hard line on tax increase. >> just to be clear i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done. >> congress and the president have until the end the year to avert automatic spending cuts and tax increase. take a quick break. when we come back on the morning news a preview of this morning's jobs report. what role did sandy play in hiring? ♪ [ male announcer ] with free package pickup from the u.s. postal service. visit usps.com. pay, print, and have it picked up for free before december 20h for delivery in time for the holidays. you can even give us special instructions on where to find it. free package pickup. from the u.s. postal service. because it's nice to have an extra pair of hands arou
in this country president obama says cutting a deal to avoid the fiscal cliff could to be done in a week but the president said that won't happen unless republicans drop their opposition to the wealthy. president obama visited a virginia family to move his cause. he maintained his hard line on tax increase. >> just to be clear i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something...
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Dec 4, 2012
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the republican plan would raise tax revenue by not extending the current obama cut in payroll taxes. but the republican plan still refuses to raise the top income tax rates. yesterday, treasury secretary tim geithner made it clear that there can be no deal without higher top tax rates. >> last question, can you promise that we will not go over the cliff? >> no, i can't promise that. that's a decision that lies in the hands of the republicans that are now opposing increases in tax rates. if they recognize the reality that we can't afford to extend those tax rates, then we have a basis for the agreement and that's going to be the responsible thing to do and my judgment is they are going to do it. >> joining me now, ezra klein, huffington post, ryan grim. ezra, what do you make of the boehner proposal that was kind of cribbed from erskine bowles? >> two things. one, republicans are terrified about by the polls showing that they are going to immediately get blamed if they are not willing to compromise. the reason you initiate the bowles' plan is you say, look, they are going along with t
the republican plan would raise tax revenue by not extending the current obama cut in payroll taxes. but the republican plan still refuses to raise the top income tax rates. yesterday, treasury secretary tim geithner made it clear that there can be no deal without higher top tax rates. >> last question, can you promise that we will not go over the cliff? >> no, i can't promise that. that's a decision that lies in the hands of the republicans that are now opposing increases in tax...
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Dec 4, 2012
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will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and deadline pressure and momentum you're not going to have after you're over the fiscal cliff. so every day that goes by after january 1st isn't going to look like that big of a deal and essentially, time will run out for both parties, you will have a lot of problems in 2013, they will take the lion's share away from fiscal dealmaking, senate confirmation, have the debt ceiling, the long-delayed nuclear negotiableses with iran, going to have posturing for the 2014 campaigns. all of those things are going to suck out the moment up that we have right now. so, yes, democrats are not as bad off as the republicans, but that doesn't mean they should be waiting either. >> i
will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and deadline pressure and momentum you're not going to have after you're over the fiscal cliff. so...
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Dec 1, 2012
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. >>> and lawmakers and president obama have exactly one month to cut a deal to avoid the so-called fiscal cliff. a huge package of tax hikes and spending cuts will kick in january one. they spent time blaming each other for not getting serious. in his weekly address, president obama says he is ready to make a deal but wouldn't accept continued tax cuts for the wealthiest people. >>> the senate has already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. and if we can just get a few house republicans on board, i'll sign this bill as soon as congress sends it my way. but, it is unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the richest americans. >> republicans say tax hikes on the wealthy mean tax hikes for small businesses, something they insist they cannot accept. here is long-time gop senator orin hatch. >> unfortunately, some on the other side of the aisle are indicating a disastrous thelma and louise idea, that will
. >>> and lawmakers and president obama have exactly one month to cut a deal to avoid the so-called fiscal cliff. a huge package of tax hikes and spending cuts will kick in january one. they spent time blaming each other for not getting serious. in his weekly address, president obama says he is ready to make a deal but wouldn't accept continued tax cuts for the wealthiest people. >>> the senate has already passed a bill to keep income taxes from going up on middle class...
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Dec 3, 2012
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. >> reporter: gop lawmakers don't want higher rates and say the obama administration's proposed cuts to entitlements don't go far enough. >> i think we're going over the cliff. it's pretty clear to me they have made a political calculation. this offer doesn't remotely deal with entitlement reform in a way to save medicare and medicaid and social security from bankruptcy. >> reporter: if a deal is not reached, taxes go up and spending will be clashed. defense contractors are sending the message to lawmakers those cuts would damage the military industry and weaken national security. the ceo of task, a company that develops aviation systems and software for intelligence agencies: >> over 50% of the defense budget is procuring services and services are underscored by jobs. so of course there will be job loss if you have cuts. >> reporter: the cliff hits at the end of the year. but congressional leaders say a compromise needs to be figured out in the next couple of weeks so lawmakers have enough time to debate and pass it. in washington, danielle nottingham, cbs 5. >>> so if democrats and
. >> reporter: gop lawmakers don't want higher rates and say the obama administration's proposed cuts to entitlements don't go far enough. >> i think we're going over the cliff. it's pretty clear to me they have made a political calculation. this offer doesn't remotely deal with entitlement reform in a way to save medicare and medicaid and social security from bankruptcy. >> reporter: if a deal is not reached, taxes go up and spending will be clashed. defense contractors are...
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Nov 30, 2012
11/12
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seth, president obama's plan is advocating tax increases but almost no net spending cuts. how do you resolve this crisis without cutting spending significantly? >> well, i don't think that's true at all. there's substantial spending cuts. i mean, first of all, we've already cut spending by $1.5 trillion as part of the first part of this deficit reduction framework. also in his offer is another $400 billion in cuts, targeted cuts to health care programs. i really think that we shouldn't, like you said, take the knife to fundamental programs like medicare and social security. the president's plan is the plan he presented to the american people and won the election on. certainly, the plans they would cut or fundamentally restructure medicare, those proposals -- >> i don't think that's what we're talking about, seth. >> does that do anything to the debt? >> that's a great question, maria. that's the biggest challenge with this proposal that the president put out. he's actually talking about new spending. additional payroll benefits, additional unemployment benefits. his very p
seth, president obama's plan is advocating tax increases but almost no net spending cuts. how do you resolve this crisis without cutting spending significantly? >> well, i don't think that's true at all. there's substantial spending cuts. i mean, first of all, we've already cut spending by $1.5 trillion as part of the first part of this deficit reduction framework. also in his offer is another $400 billion in cuts, targeted cuts to health care programs. i really think that we shouldn't,...
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Dec 6, 2012
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in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for it. debt doesn't matter. >> bob: respond to the social security thing. >> eric: obama in october of 2008 before he was president obama. season. >> the way bush has done it, over the last eight years is to take out a credit cardback of china in the game of the children, driving up the national debt. that is irresponsible and unpatriotic. >> eric: unpatriotic. $5 trillion in debt. president obama will add ten, 11, 12 trillion in debt. when he is done with this. >> for years, president obama running when he was senator, running for president always said that the bush tax cuts were only for the rich and only benefit the rich. now he says that the republicans are holding hostage for the lower and middle class. the tax cuts will expire. hypocrisy knows no bounds. >> bob: you just keep shooting your mouth off over and over about this stuff. i said if they came up with a deal on inflation adjustment on social security it would sav
in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for it. debt doesn't matter. >> bob: respond to the social security thing. >> eric: obama in october of 2008 before he was president obama. season. >> the way bush has done it, over the last eight years is to take out a credit cardback of china in the game of the children, driving up the national debt. that is irresponsible and unpatriotic. >> eric: unpatriotic. $5...
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Dec 5, 2012
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instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table and then continue to negotiate the rest to have later. some of the republicans are now coalessing around that view that they should give into what the president is suggesting, at least temporarily, and continue to negotiate on the rest because there's a lot of political pain here for republicans if we do get to the point where we go over the cliff because of those higher tax rate pateryers, guys. >> all right, eamon. thank you. >> the talk continues, but none of it face to face. be sure to catch a live interview with one of the k
instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table...
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Nov 30, 2012
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they say they want to see fewer taxes and deeper cuts to entitlements. the white house is saying, okay, put your plan on the table. so they're waiting to essentially hear from republicans about what their plan is to reform entitlements. as you mentioned, president obama as part of his strategy out on the road today in the suburbs of philadelphia really trying to turn up the heat on congressional republicans to get on board with his plan to increase taxes on wealthier americans and republicans have been firing back all day long. but the clock is ticking. there is not a whole lot of time left here. you remember there was that sort of harmonious tone that came out of the first meeting that president had with congressional leaders. right now we're look at a stalemate. john boehner call this had a stalemate earlier today. president obama doesn't have any specific plans that the white house is reading out to talk to congressional leaders, but they say he will remain in contact with him in the coming days. >> kristen welker at the white house. thank you vyou ve
they say they want to see fewer taxes and deeper cuts to entitlements. the white house is saying, okay, put your plan on the table. so they're waiting to essentially hear from republicans about what their plan is to reform entitlements. as you mentioned, president obama as part of his strategy out on the road today in the suburbs of philadelphia really trying to turn up the heat on congressional republicans to get on board with his plan to increase taxes on wealthier americans and republicans...
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Nov 30, 2012
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, let president obama veto that extension, then vote a middle class tax cut and let the top bracket expire, and then republicans can say look, we didn't really break our pledge. taxes were going to go up across the board. we did what we could do and the president wouldn't let us do more. but i also think that president obama sees a real percentage for him in getting republicans to cross the line of agreeing to a rate increase. and that's why i think he's pushing so hard on this. i think most economists would agree that there is often more advantages in capping deductions than in just going for the rates, but i think there's a real political advantage for democrats looking ahead to battle after battle that we'll face down the road in getting republicans to cross that red line. it's sort of a scout, you might say. >> thank you both very much. >>> the united states opposed today's u.n. vote on the palestinian observer state. senator bob menendez saying it could inflame passions throughout the region. welcome to you, senator. >> good to be with you. >> explain to me why you feel so strongly th
, let president obama veto that extension, then vote a middle class tax cut and let the top bracket expire, and then republicans can say look, we didn't really break our pledge. taxes were going to go up across the board. we did what we could do and the president wouldn't let us do more. but i also think that president obama sees a real percentage for him in getting republicans to cross the line of agreeing to a rate increase. and that's why i think he's pushing so hard on this. i think most...
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Dec 4, 2012
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back their full-time workers less than 30 hours week so they don't have to pay for obama carism would say that is very, very interesting. watch for other companies to do it. otherwise the cost goes up for these food restaurant chains. >> a pop for puppies. many college students are looking for twice ease stress during final exams. one canadian university has gone to the dogs. starting today, dalhousie university in halifax, nova scotia, is throwing students a bone by providing a puppy room where students can destress among four-legged friends. although the idea may seem barking mad, organizers promise that simply pekt the dogs will help relieve anxiety. >> we need one for the "fast money" guys, petting, with dogs. >> move on. >> no comment. >> let's go somewhere else. >> seem marks help us. >> i'm here, guys have no fear. here's what's coming up next on the cnbc "fast money" show at 5 p.m. eastern. she was the most closely watched analyst at the height of the 1990s tech boom, today, mary meeker's tech predictions moving some of the biggest names. meekers a head lines, the smartphone r
back their full-time workers less than 30 hours week so they don't have to pay for obama carism would say that is very, very interesting. watch for other companies to do it. otherwise the cost goes up for these food restaurant chains. >> a pop for puppies. many college students are looking for twice ease stress during final exams. one canadian university has gone to the dogs. starting today, dalhousie university in halifax, nova scotia, is throwing students a bone by providing a puppy...
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president obama said that he is willing to sign it. so that would be one way to just sort of get some of this panic out of the way and let people deliberate and make some really good choices when we come back in january. >> i want to bottom line it very quickly with jared. i'm going to make you squirm, jared. >> god luck. >>maker the argument for going over it. you have to argue for it. go over the whole thing. what would it be? get our aaa back? >> that may be the only way we can get a responsible fiscal deal. and if that deal begins to take shape in late december, the only way to resolve the cliff may be to temporarily go over the cliff so that tax rates reset and we can get on a bitter fiscal trajectory, and -- and -- they can quickly, as nicole mentioned, reverse some worse effects of that. and in that sense, we've gone over it, but briefly. i'm not for it but that is a resolution that would really use the leverage, the dynamics that are in play right now to finally get us on a more sustainable fiscal path. >> it's not juvenile hal
president obama said that he is willing to sign it. so that would be one way to just sort of get some of this panic out of the way and let people deliberate and make some really good choices when we come back in january. >> i want to bottom line it very quickly with jared. i'm going to make you squirm, jared. >> god luck. >>maker the argument for going over it. you have to argue for it. go over the whole thing. what would it be? get our aaa back? >> that may be the only...
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president obama proposed $4 trillion in deficit reduction, he has a balanced approach to take care of the middle class and that they have the certainty that they need that we make spending cuts that are significant, that make sense, and that we maintain the things that are going to keep us competitive globally like the central funding for education and innovation, and at the same time we also make sure we ask wealthiest americans to pay a little bit more and when it comes to our tax policy that if you work hard and play by the rules in america that everybody has a chance to succeed and that's why you've seen ceos from across the country sign on to that notion, with president obama, saying it's okay if we raise rates a little bit for folks who make more than $250,000 a year. the world is not going to come to an end. there are republican and conservative analysts and thought leaders like bill kristol who have said that. why the republicans in the house who really are still very entrenched with their tea party mentality have not yet understood that, and are still dug in, is really frustr
president obama proposed $4 trillion in deficit reduction, he has a balanced approach to take care of the middle class and that they have the certainty that they need that we make spending cuts that are significant, that make sense, and that we maintain the things that are going to keep us competitive globally like the central funding for education and innovation, and at the same time we also make sure we ask wealthiest americans to pay a little bit more and when it comes to our tax policy that...
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back the enormous growth in government and put obama care on the table. there's one entitlement you can cut that no one is going to get hurt or helped or either because we haven't spent the money yet. it hasn't been implemented yet. it's kind of a painless way to take some spending off the table. >> that probably would happen over the president's dead body, but all right. rick santorum, always nice to see you. >> obama care or medicare, i'm not too sure it would be over his dead body. >>> good to see you, up next, julian assange, he's posted hundreds of thousands of american military documents, videos, american classified documents on the web. >>> and almost 500 people have died in the past 11 years when law enforcement used tasers. is it excessive force? up next. heard this news about a multivitamin study looking at long-term health benefits for men over 50. the one they used in that study... centrum silver. that's what i take. my doctor! he knows his stuff. [ male announcer ] centrum. the most recommended. most preferred. most studied. centrum, always y
back the enormous growth in government and put obama care on the table. there's one entitlement you can cut that no one is going to get hurt or helped or either because we haven't spent the money yet. it hasn't been implemented yet. it's kind of a painless way to take some spending off the table. >> that probably would happen over the president's dead body, but all right. rick santorum, always nice to see you. >> obama care or medicare, i'm not too sure it would be over his dead...
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obama is capable of managing the economic fallout of it. that's another reason why i think it's important that geithner is the front man here, that geithner is the type of guy who can talk to the street in a way that's very assuring. >> the street, not the streets. >> yeah. >> also if they -- if we go over the cliff, i mean, the republicans then look like they let it happen all for the 2% as michael was saying because that's what this becomes about. that's not something they want. it doesn't put them in a good position. to some degree this is a choreographed dance that has to happen. they cannot come to a deal without a humongous fight. >> this is also the white house i think has managed the optics well on this and dubbed it the great reasonableness tour of 2012. it's not a coincidence that the president was golfing with bill clinton this sudden. that is as much the president likes golf as much as an effort to say, here i am with the great dealmaker, the reasonable guy that everybody likes, regardless of whether clinton's actually giving hi
obama is capable of managing the economic fallout of it. that's another reason why i think it's important that geithner is the front man here, that geithner is the type of guy who can talk to the street in a way that's very assuring. >> the street, not the streets. >> yeah. >> also if they -- if we go over the cliff, i mean, the republicans then look like they let it happen all for the 2% as michael was saying because that's what this becomes about. that's not something they...
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and the extended unemployment benefits, too. >> i don't like the way obama started here at all. i mean, there were two ways to start the negotiations. one was did you ever see into guys like haggle over something and one guy says a dollar and the other guy says 1,000. and that's where they seem to have started. he could have started at 500 and then the republicans could have said maybe 100. but he started this thing, he put his foot forward like you know what, i'm willing to play this to the bitter end. this wasn't a thing that said let's get it done quickly. he sent geithner over. he used geithner's political capital which i think was a mistake for geithner. >> he's leaving. >> but it's like using -- >> going back to goldman. >> where he started. >> where he cut his teeth. >> like using a pitcher because you don't care about his arm at the end of the season. so you threw him out there and you send him over with -- and you also let the republicans characterize the plan. which from a pr standpoint i don't think was that smart. so i think they blew that one. but ultimately it stri
and the extended unemployment benefits, too. >> i don't like the way obama started here at all. i mean, there were two ways to start the negotiations. one was did you ever see into guys like haggle over something and one guy says a dollar and the other guy says 1,000. and that's where they seem to have started. he could have started at 500 and then the republicans could have said maybe 100. but he started this thing, he put his foot forward like you know what, i'm willing to play this to...
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what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy. >> that's just not going to happen. >> reporter: the pentagon could take the biggest hit from president obama told defense experts monday, don't worry. >> even as we make very tough fiscal choices, we're going to keep investing in these programs. >> reporter: he went online on youtube and twitter explaining why he thinks the rich should pay more. going over the fiscal cliff could cost america jobs. >> we're only expanding 2% right now. it needs to be considerably higher to bring more people off unemployment. >> reporter: for the jobless, president obama is asking congress for millions more. and more on the president's plan which will pitch to governors today largely spares social se
what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy. >> that's just not going to happen. >> reporter: the pentagon...
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yesterday, republicans proposed steep spending cuts but gave no ground on president obama's call to raise taxes on the wealthiest americans. here's what the president told bloomberg's white house correspondent about that. >> unfortunately the speaker's proposal right now is still out of balance. you know he talks, for example, about $800 billion worth of revenue but was he says he's going to do that by lowering rates. when you look at the platte it doesn't work. when i've said is, i am prepared to work with the speaker and democrats and republicans to go after excessive health care costs in our federal health care system, we're going to have to strengthen those systems and i think we can do that without hurting seniors, without hurting beneficiaries. i think that, you know, there's probably more cuts that we can squeeze out, though we've made over a trillion worth of spending cuts. >> you'll remember only a week ago the democrats proposed their solution to this and it was rejected by the republicans. the president is reiterating that taxes have to go up on the nation's top 2% in order to
yesterday, republicans proposed steep spending cuts but gave no ground on president obama's call to raise taxes on the wealthiest americans. here's what the president told bloomberg's white house correspondent about that. >> unfortunately the speaker's proposal right now is still out of balance. you know he talks, for example, about $800 billion worth of revenue but was he says he's going to do that by lowering rates. when you look at the platte it doesn't work. when i've said is, i am...
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obama's plan to extend tax cuts for most americans while allowing them to go up for the richest, and start the fight all over again during debt limit talks early next year. >> that is a bad strategy for america. it is a bad strategy for your businesses. and it is not a game that i will play. >> reporter: and brian, tonight, the white house is preparing in case the country does go over that fiscal cliff, budget officials have asked all federal agencies for information that they need in case of possible plans in case of those automatic spending cuts that could go in place in just 27 days. >> peter alexander at the white house for us tonight. thank you. >>> and up next, the loss today of a legend in american music. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days migh
obama's plan to extend tax cuts for most americans while allowing them to go up for the richest, and start the fight all over again during debt limit talks early next year. >> that is a bad strategy for america. it is a bad strategy for your businesses. and it is not a game that i will play. >> reporter: and brian, tonight, the white house is preparing in case the country does go over that fiscal cliff, budget officials have asked all federal agencies for information that they need...
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this hasn't presented itself as a party that wants to cut spending. on one hand you have president obama's proposal, which most agree is the responsible way of raising the debt, raising rates. and responsible cuts on entitlements and discretionary spending versus republicans who are divided against something that is a chicken hawk when it comes to the deficits, that is the boehner approach, or the more extremist position which is absolutely nothing.ç so this is an extraordinary position for the republican party to have evolved into. >> you must respond to what julian just said. >> i like julian an awful lot but i think what he said is entirely wrong. it's fascinating president obama last july, july of 2011, said we can get $1.2 trillion in revenue where we don't have to raise marginal tax rates and close loopholes and julian says most economists agree, in fact, this won't add to the deficit. look, you're only talking about $89 billion a year of the tax dollars of top two drapes. julian and i will agree, however, this deal is not serious. you need to
this hasn't presented itself as a party that wants to cut spending. on one hand you have president obama's proposal, which most agree is the responsible way of raising the debt, raising rates. and responsible cuts on entitlements and discretionary spending versus republicans who are divided against something that is a chicken hawk when it comes to the deficits, that is the boehner approach, or the more extremist position which is absolutely nothing.ç so this is an extraordinary position for...
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today, president obama wants to let the bush era tax cuts expire for wealthy americans only, taking up their marginal federal tax rate from 36% to 39.6%. we're talking about a 3.6 percentage point uptick for households making more than $250,000 a year, only on every dollar they make above the $250,000 amount. starts 2 s at $251,000. it is on the money you make on the margin. now, while i totally agree every penny counts when it comes to your money, when you compare that to the taxes most americans paid out in past decades, when there was phenomenal economic growth, i don't get why republicans are screaming bloody murder about this 3.6%. what if we were all to chip in a little more. we need taxes, we need government programs, particularly the ones that use the scale and scope of government to get better deals and greater efficiency than the private enterprise can achieve. now, despite what you're being told, taxes as they stand are not an impediment to our long-term economic growth. not getting a grip on government spending will be an impediment. the solution can be found by looking for
today, president obama wants to let the bush era tax cuts expire for wealthy americans only, taking up their marginal federal tax rate from 36% to 39.6%. we're talking about a 3.6 percentage point uptick for households making more than $250,000 a year, only on every dollar they make above the $250,000 amount. starts 2 s at $251,000. it is on the money you make on the margin. now, while i totally agree every penny counts when it comes to your money, when you compare that to the taxes most...
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citigroup announces major layoffs, cutting 11,000 jobs. is this a sign of things to come in corporate america? >> tom: i'm tom hudson. president obama tries to win over top business leaders, warning republicans are holding the global economy hostage over the fiscal cliff.
citigroup announces major layoffs, cutting 11,000 jobs. is this a sign of things to come in corporate america? >> tom: i'm tom hudson. president obama tries to win over top business leaders, warning republicans are holding the global economy hostage over the fiscal cliff.
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when we go over the cliff as matter of law the obama tax cuts expire. we have sequestration where these drastic cuts take place but the president politically knows that even if it a deal is made in january, february on spending they can be made retroactively. so the president believes he is in a much better position on spending than he is today in making a deal because any deal that they make will be retroactive. adam: let me flip your logic. do you think politically i don't think it would be good economically, politically good for the republicans to call the bluff, go over the cliff. yes, there is short-term pain come 2014, midterm's election the president's economy. the president gets responsibility for what happens after the cliff drops. wouldn't that be the political move to make if you're john boehner? >> we really have no choice. president is in the driver's seat and boehner is hostage in the back seat with the president with his foot on the gas. nothing the speaker can do, other than perhaps, i think it would be politically wise for the house to
when we go over the cliff as matter of law the obama tax cuts expire. we have sequestration where these drastic cuts take place but the president politically knows that even if it a deal is made in january, february on spending they can be made retroactively. so the president believes he is in a much better position on spending than he is today in making a deal because any deal that they make will be retroactive. adam: let me flip your logic. do you think politically i don't think it would be...
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perhaps means testing in some of those mandatory cuts. maybe form sub sidies, but this is where the give and take will occur. boehner and obama have met before. the summer of 2011. they put a lot of specifics on paper. when boehner couldn't get backing. >> how close is this to that is this. >> it is a broad outline, but there is a lot of negotiation. even members of the congress didn't see this in advance. this was really an opening bid. it is best seen as really a response to pressure. but people saying where's our plan. you've got to put a plan out there to begin the negotiation. >> thank you. >>> deal or no deal. we're on the edge of our seats. 29 days in counting until our taxes go up and across the board spending cuts. we're getting lots of mixed messages as to what's going to happen and where things stand. >> i'm increasingly pessimistic. >> so tonight, two men who have lots of experience dealing with lawmakers. paul begala, david frum, former adviser to president george w. bush. david, let's start with you. >> i feel about this who
perhaps means testing in some of those mandatory cuts. maybe form sub sidies, but this is where the give and take will occur. boehner and obama have met before. the summer of 2011. they put a lot of specifics on paper. when boehner couldn't get backing. >> how close is this to that is this. >> it is a broad outline, but there is a lot of negotiation. even members of the congress didn't see this in advance. this was really an opening bid. it is best seen as really a response to...
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myth number 3, obama has put $400 billion of unspecified cuts on the table. he claimed obama's -- i'm serious -- proposal -- >> he is a drama queen. >> mine is serious. theres isn't serious! i'm flabbergasted. [ laughter ] >> stephanie: the programs have existed for quite sometime. here he is. >> they won the election. they must have forgotten that republicans continue to hold the majority in the house, but the president's idea of negotiation is roll over and do what i ask. >> objection. >> we need to find common ground and find it quickly. >> oh shut up. >> stephanie: common ground -- >> common ground do what i tell you to do. >> stephanie: how about the same thing you just -- >> yeah. >> stephanie: tom [ inaudible ] republican of oklahoma. >> i'm certain if this is not good enough for the white house, we will go over the fiscal cliff. this is a compromise on taxes -- >> stephanie: no it's not. and the aforementioned drama queen, lindsay gram. >> i'm pretty sure we have going over the cliff. >> good heavens! >> stephanie: oh, my god! i think we're going over
myth number 3, obama has put $400 billion of unspecified cuts on the table. he claimed obama's -- i'm serious -- proposal -- >> he is a drama queen. >> mine is serious. theres isn't serious! i'm flabbergasted. [ laughter ] >> stephanie: the programs have existed for quite sometime. here he is. >> they won the election. they must have forgotten that republicans continue to hold the majority in the house, but the president's idea of negotiation is roll over and do what i...
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that would let president obama pocket $1 trillion in tax revenue and secure a win on his key priority in the talks. but they would do nothing else. at the end of the year, we would still go over the fiscal cliff. remember, the bush tax cuts are one of the at least stimulative policies in the negotiations. according to the economic policy institute, extending the middle class tax cuts would wipe out only about 11% of the austerity's economic impact. 11%. but all that other stuff, the payroll tax cut, the unemployment insurance, the sequester, all that, that would still be expiring. so come early next year, the economy would likely be entering an austerity-induced recession. markets would be convulsing as they realize our austerity crisis is about to become also a default crisis. and so the economy, as a whole, is going to be going nuts. poll after poll already shows republicans are receiving more blame for the potential failure of the debt talks. and after telling the press they're going to make a strategic decision to use a debt ceiling as more and more dangerous leverage, they're lik
that would let president obama pocket $1 trillion in tax revenue and secure a win on his key priority in the talks. but they would do nothing else. at the end of the year, we would still go over the fiscal cliff. remember, the bush tax cuts are one of the at least stimulative policies in the negotiations. according to the economic policy institute, extending the middle class tax cuts would wipe out only about 11% of the austerity's economic impact. 11%. but all that other stuff, the payroll tax...
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they are now backing away from the entitlement cuts they were talking about. they haven't given any specifics on what kind of deductions and loopholes they want to get rid of, but they're leaving that for the committees on capitol hill if they can get away with it. but we see president obama getting tougher right now on what he's calling for while the republicans, if you look at the numbers, they're really not asking for as much. i think we're seeing speaker boehner getting his ducks in a row to cut a deal that is going to try to get settled before the fiscal cliff goes over. >> bill, "the washington post" today has a poll which says 53% of americans are likely to blame republicans and just 27% the president if they don't agree on a fiscal cliff. we know that after the election, 60% of people said let's raise taxes on the wealthiest. what more does john boehner need? >> i don't understand the republicans' thinking on this. i really don't. this is power politics. they don't have the leverage in this situation. if they don't cut a deal within the next 30 days, y
they are now backing away from the entitlement cuts they were talking about. they haven't given any specifics on what kind of deductions and loopholes they want to get rid of, but they're leaving that for the committees on capitol hill if they can get away with it. but we see president obama getting tougher right now on what he's calling for while the republicans, if you look at the numbers, they're really not asking for as much. i think we're seeing speaker boehner getting his ducks in a row...
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what kind of political positioning is this and there was an election and obama and senator demint was on fox and more power in the senate than he did in. now watch this. >> this is a dream job for me. it critically important. i don't think republicans are going to win another national election until they first convince americans that our principles work. i think i'm in a more powerful position than a single united states senator. >> being in the minority is no fun but that's a pretty pathetic statement about what it means to be in the minority. the thing that bugs me about demint choosing to do this is immigration is going to be one of the first things that the senate tackles this year. he was a big player in 2007 pushing against bush effort for bipartisan reform. he was taking about building a 700-mile long wall along our south border. i'm not certain why he would choose this moment. >> have a great weekend. >> you, too. >>> she jumped in our hearts at the london games and now she's writing all about it on how she got there. gold medal winner gabby douglas is here. she might even tel
what kind of political positioning is this and there was an election and obama and senator demint was on fox and more power in the senate than he did in. now watch this. >> this is a dream job for me. it critically important. i don't think republicans are going to win another national election until they first convince americans that our principles work. i think i'm in a more powerful position than a single united states senator. >> being in the minority is no fun but that's a...
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and let's give tax cuts to the middle class. what is he talking about? this is about tax cuts. the president is saying, renew the payroll tax cut. give tax cuts to every dollar earned up to $250,000. i don't know what they're thinking, thomas. but obviously, they are putting it all on the line for the koch brothers and sheldon adelson who earn billions of dollars. they're selfish. and there's a group called patriotic millionaires who are saying please, please, tax us fairly. and here's the point. the president is saying to the millionaires and billionaires, we're just taking you back to the tax rates that you had when bill clinton was president. and i would like to remind everybody, we had the greatest prosperity then when everyone paid their fair share. 23 million new jobs. and why is it? because the middle class had the money to spend out there, to stimulate this economy. it's a consumer-driven economy. about 70% of the economy is consumer driven. and the other thing the president put on the table, i understand, is refinancing
and let's give tax cuts to the middle class. what is he talking about? this is about tax cuts. the president is saying, renew the payroll tax cut. give tax cuts to every dollar earned up to $250,000. i don't know what they're thinking, thomas. but obviously, they are putting it all on the line for the koch brothers and sheldon adelson who earn billions of dollars. they're selfish. and there's a group called patriotic millionaires who are saying please, please, tax us fairly. and here's the...
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they are now afraid of the politics of spending cuts that they've been pushing for so long. >> well, it's a ridiculous idea to go from 65 to 67. first of all, you don't save that much money. second of all, the obama health care bill is very weak on taking care of seniors, because they can charge three times as much for seniors as they can for younger people. so that just gives seniors two more years to pay three times as much as younger people if they have to go to private insurance. third, medicare is the only universal program we have, and it's got the lowest administrative costs of any program we have in health care. so this is a really foolish idea. and i hope it disappears. i am not against doing some cost control on medicare. but you don't have to cut entitlements. what you do have to do is pay by the patient, not by the procedure. as we know, there are so many people when they get to 59, 61, 62, who are just desperately waiting for that medicare eligibility moment, because costs have gotten completely out of control, and i have known plenty of people who go insuranceless for a
they are now afraid of the politics of spending cuts that they've been pushing for so long. >> well, it's a ridiculous idea to go from 65 to 67. first of all, you don't save that much money. second of all, the obama health care bill is very weak on taking care of seniors, because they can charge three times as much for seniors as they can for younger people. so that just gives seniors two more years to pay three times as much as younger people if they have to go to private insurance....
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tax cuts for the rich. take a listen to the president earlier today. >> a lot's riding on this debate. this is too important to our economy, it's too important for our families to not get it done and it is not acceptable to me and i don't think it is acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. >> reporter: now just minutes after that, speaker of the house, john boehner, the republican leader here on the house side of the capitol, took to the podium as sort of a downbeat speaker boehner saying that we are at an impasse here in washington in these negotiations. >> no, there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. if you've watched me over the last three weeks, i've been very guarded in what i have to say because i don't want to make it harder for me or the president. >> reporter: so, brian, as you can tell, they're talking about a stalem
tax cuts for the rich. take a listen to the president earlier today. >> a lot's riding on this debate. this is too important to our economy, it's too important for our families to not get it done and it is not acceptable to me and i don't think it is acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. >> reporter: now just minutes after that, speaker of the...
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just 26 days before everyone's taxes go up and programs get cut. jon karl is following it all. a small breakthrough yesterday, president obama and house speaker john boehner got on the phone. >> reporter: that may not sound like much, george. but it's the first time the two men have spoken in a week. and what may be the most significant sign of progress, neither side talked about what was said on the call, an indication they may be serious about negotiating in private. >> we're starting to see some republicans concede that tax rates on the wealthy, at least, are going to have to go up. the president has another rock-hard bottom line. that's an increase in the u.s. debt limit, as well. >> reporter: that's right. republicans even top republicans, say the tax rates are going to almost certainly go up. but on this question of the debt ceiling, the government reaches the limit of how much money it can borrow in february. republicans say they will exact a price for that. they want spending cuts, if they can't get exchange for the tax increases. they will raise the debt ceiling. >> th
just 26 days before everyone's taxes go up and programs get cut. jon karl is following it all. a small breakthrough yesterday, president obama and house speaker john boehner got on the phone. >> reporter: that may not sound like much, george. but it's the first time the two men have spoken in a week. and what may be the most significant sign of progress, neither side talked about what was said on the call, an indication they may be serious about negotiating in private. >> we're...
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if they don't see anything substantive, then there will be concerns about cuts, rate cuts in the credit standing of the united states. that's what they're going to be worried about. >> that even goes to obama's terminology yesterday. he talked about presenting a framework by chris mall. framework, all that means is, listen, we've got to plan, we can modify it, tweak it -- the market will not want that. >> the market will move very quickly if they perceive it is not substance. remember it's two parts -- soon and substance. >> thank you very much. >>> to the nasdaq right now, bertha coombs is there following the big movers. >> over the last couple of days the nasdaq has managed to move into positive territory for the month of november, back above 3,000. today one of the biggest movers is research in motion getting an upgrade at goldman sachs. one of the firms that sees them perhaps getting some traction with the blackberry 10 rollout in 2013. apple up today as well, up more than 1%. look what's happened this month. nasdaq composite has moved up without the help of apple. apple on track fo
if they don't see anything substantive, then there will be concerns about cuts, rate cuts in the credit standing of the united states. that's what they're going to be worried about. >> that even goes to obama's terminology yesterday. he talked about presenting a framework by chris mall. framework, all that means is, listen, we've got to plan, we can modify it, tweak it -- the market will not want that. >> the market will move very quickly if they perceive it is not substance....